Accordingly, the Ministry of Finance affirmed that only petrol but not oil is under the excise tax in compliance with the Excise Tax Law.
The excise tax rates for regular petrol, E5 petrol, and E10 petrol are 10 percent, 8 percent, and 7 percent, respectively.
The Excise Tax Law does not stipulate any tax exemption or reduction for any goods subject to this tax. The power to adjust the rate of this tax belongs to the National Assembly after its careful consideration.
Source: www.sggpnews.org.vn
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